The directors of a $15 million saleyard planned for Yass, on the southern Tablelands, say they may have found an investor.

The saleyards are designed to be built on Black Range Road, on the outskirts of the town.

Director of the South-eastern Livestock Exchange, Colin Medway, says the feasibility study has been completed but it's too early to name the interested investor.

He says it's inevitable that small saleyards in the surrounding region will lose business if the saleyards are built.

"These smaller centres, I think the viability of them is in question already," he said

"And I think those centres are just swimming against the tide and eventually they're just going to get swamped, so these regional centres are just the way of the future.

"The way the processors want to be able to come and fill trucks, they want to be able to get numbers with confidence. Producers, all the same, want to be able to send their stock to the yards and know that there's going to be good competition for their stock."